There are many different ways of marketing which people are using to make a lot of money. Multi-level marketing is a specific type of marketing strategy, where the sales force is rewarded both for the sales that they make as well as for the other sales staff which they recruit. One of the biggest ways that the sales force is motivated and rewarded is by getting multiple levels of compensation from their recruitments.
This form of marketing may be known to some as referral marketing, pyramid selling and even network marketing. The truth is that many automatically associate all these words with unscrupulous types of marketing. They assume that this is negative and that it is in some way related to scams and pyramid schemes.
This is not always the case, as not all referral marketing is a scam or a pyramid scheme. There are some very legitimate programs out there where people have ended up making large sums of money. They are not “get rich quick schemes” but are rather genuine programs which offer people the opportunity to make money, if they are prepared to put in the effort and hard work.
The biggest fundamental difference between a multi-level marketing scheme and a pyramid scheme is that a pyramid scheme will usually ask you to spend money. They usually call this a “joining fee”. They will tell you that in order for you to start earning money you will need to pay a certain fee. However multi-level marketing is very different.
There are many different views and opinions with regard to multi-level marketing strategies; however it is always up to you as the individual to be able to spot the warning flags. The unfortunate truth of the matter is that not all multi-level marketing plans are genuine.
If you are considering becoming a part of this type of marketing plan it is going to be in your best interest to learn more. There are all sorts of ways of finding out more information. Here are some recommended methods to find out more information:
- Speak to people who are already part of the company.
- Ask many questions.
- Get family and friends to give you a second, third and fourth opinion.
- If you have a lawyer or know a lawyer ask them to check it out for you.
- Ask someone who specializes in IT if they can find out more about the company based on its website.
- Do online research on the company.
- Evaluate their marketing plan.
- Don’t rely on testimonials.
- Take your time learning more.
In today’s day and age there are more resources to help people become successful, however the biggest challenge lies in knowing who to trust and what to trust. Never believe a company on its word. Just because it has a social media presence and people are following it doesn’t mean it is real.
Anything which you wish to invest time, money or effort in, should be fully investigated. While some people have made real money with multi-level marketing, there are others who claim that they have been totally ripped off.